The Bulgarian National Bank published a review of measures aimed to address the risks to the banking system, including those stemming from loans secured by residential real estate. ''Such concerns are well-founded given the situation in the real estate market in the country before and after the Global Financial Crisis. Initially, prices rose rapidly driven by demand stimulated by bank loans. After the crisis, prices fell due to difficulties in accessing financing and the sale of properties purchased with loans that could no longer be serviced," the analysis stated.
The Global Financial Crisis of 2008/2009 completely changed the situation. Access to credit became severely restricted and demand for real estate froze. This episode should not be forgotten and should always serve as a sobering reminder in the face of overly optimistic expectations about the property market, BNB warns.
Cooperation between Bulgaria and China in the field of agriculture and food is very active and is constantly expanding. This was stated at a meeting in Sofia between Deputy Minister of Agriculture and Food Lozana Vasileva and Wan Lejun, Chief Animal..
Bulgaria is making good progress toward joining the Eurozone, as inflation is decreasing towards the threshold set by the criteria, European Bank for Reconstruction and Development President Odile Renaud-Basso said in an interview with BTA. The..
Bulgaria's Ministry of Transport has been working for years to develop Corridor No. 8, connecting the Adriatic with the Black Sea through Albania, North Macedonia and Bulgaria. Of the 1,220 km of railway line along the corridor, 747 km are on the..
Bulgaria is making good progress toward joining the Eurozone, as inflation is decreasing towards the threshold set by the criteria, European Bank for..
Cooperation between Bulgaria and China in the field of agriculture and food is very active and is constantly expanding. This was stated at a meeting in..
Clear